states. >> understanding you have a lot of bearish news headlines coming forth but what drives the tape is the positioning of the investment community. where is the investment community? we have established long positions in oil as reported from the cfdc as the highest level in multiple months. i point out crude is just in the mindset where if everyone is all in long the slightest bit of bearish news will take it the other way. many are going to say that crude is going to deteriorate into the mid to lower 80s. i take the other side of that. >> let's bring in the founding partner of again capital. he joins us with his take on crude's plunge. you are in the camp that believes we have seen the peaks at least for now. >> you have covered it well. i would say that in highlight just a few minutes ago norfolk southern came out with earnings very disappointing. they highlighted the shipments they are doing as flagging. that goes to the thesis that is going on here that all the qe in the world can benefit gold and silver as monetary pure plays but crude oil has to hue to the fundamentals that ha